Market Musings: Mortage forbearance has arrived, but how will real estate bear the upcoming months?

By Larry Rosen : sfexaminer – excerpt

Not panicking is not the same as hiding your head in the sand; it’s admitting the rough road ahead.

When people ask me how to best handle the present crisis, I offer up three suggestions: “Don’t step on the scale,” I begin, “and don’t check the balance of your 401(k).”

“And finally,” I add, “Don’t go to Zillow and see what your house is worth. Sit this one out. Even if it doesn’t show it yet, Zillow will be a bloodbath soon.” I know, not because I’m some sort of “real estate insider,” but because I’m a rational person, that the last of these three acts could and probably would make you spiral into a deep depression and really, at this point who needs more depression?…

This week’s best (only?) real estate good news came March 27, via the Coronavirus Aid, Relief and Economic Security (CARES) Act, and it’s not designed to jump start the business of buying and selling residential real estate. Instead, it’s designed to keep people in the homes they already own or rent…(more)

Looks like the game will be changing rapidly. Frozen is the word for it. Hope you are all well


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